Dycom Industries Inc. (NYSE:DY) on Wednesday posted upbeat second-quarter results but issued third-quarter adjusted earnings guidance with a midpoint below Wall Street estimates.
Dycom reported adjusted earnings of $5.29 per share, beating the $4.72 estimate. Contract revenue climbed 45.6% year over year to $2.01 billion, topping the $1.98 billion estimate. Organic revenue increased 16.7%.
Dycom raised its fiscal 2027 revenue forecast to $7.48 billion to $7.66 billion from $7.38 billion to $7.65 billion. The consensus estimate is $7.62 billion.
For the third quarter, Dycom expects adjusted earnings of $4.33 to $4.79 per share. The midpoint of $4.56 falls below the $4.79 estimate. The company forecast quarterly revenue of $1.90 billion to $1.98 billion, compared with the $1.94 billion estimate.
“Dycom delivered record organic first half revenue, increased profitability, and continued above-market growth,” said Dan Peyovich, Dycom’s President and Chief Executive Officer. “Demand across our portfolio is stronger than ever, fueled by a generational deployment of digital infrastructure that is projected to go well into the next decade. We secured significant new awards, growing our backlog to a record level. We also officially welcomed National Technology Integrators to the Dycom family, further enhancing our leadership in digital and critical infrastructure and diversifying our business.”
